Topic: Don't accept bribe to do KYC, it doesn't worth it (Read 368 times)

Meanwhile, they still don't support users from our country. 
Most of the time we show that many wallet o exchanges do promotions for marketing or to attract new users. Sometimes the reward is alluring, many peoples do KYC blindly. We should keep these things in our mind, that in some cases, privacy is more important than these small rewards.

I mean, you can certainly extract the seed phrase from a blockchain.com wallet and import it in to a proper wallet to access your coins, but you have absolutely no way of knowing or verifying that the seed phrase was created securely, is truly random, that blockchain.com don't have a copy of it or of your private keys, and so on. Also, if you don't have your seed phrase written down, then blockchain.com can absolutely lock you out of your account and your coins at any time. Given that on top of this they have had a number of critical security vulnerabilities in the past which have resulted in losses of large amounts of bitcoin, then no one should ever use their service.

I didn't know they're still sending out this emails, seems the KYC documents they have gotten isn't enough for them because I remember this been a topic 1/2 years back when they just launched this campaign. By the way, who still uses Blockchain wallet when there are better options out there that don't require you verifying your information to use them. If you can't afford hardware Wallet, we have electrum that can be used both on mobile and desktop and the setup is very easy and comfortable to use.

We can't be battling with exchanges mandating us to complete KYC verification to be eligible to use their platforms then also encounter same challenge for a wallet provider that claims we're incharge (non custodial). As for the bribing of customers to complete KYC, no sector does it better than exchange. Recently I have been spam multiple times of getting some changes for registering for future trade on Binance and guess what, you have to be verified to a certain level to trade futures. This guys have different strategies to steal your information for their selfish ams, don't fall for it.

There are many sites especially exchanges that are centralized that do not require for KYC limited to certain amount of deposit and withdrawal, it is true that exchanges like that can demand for KYC at anytime. Blockchain.com wallet is a noncustodial wallet but that look for means to demand for kyc. I thought blockchain.com users have the full control? As they have the private key of their wallet. But I can never recommend any wallet hat find all means to make sure their users are linked to bitcoin address.

They keep sending on me and I just ignore them. Maybe I wasn't really in need of such $20 for my KYC, for my personal Identity, and of course, I couldn't afford to do it, otherwise, it's used by others whose intention is to do evil things.

KYC is important in some areas but not these questionable platforms. The bribery that happens now seems a practice by most scam sites and some people don't have any idea what gonna happen after doing KYC. So it was not surprising that frauds and scams will stop because there are so many people sell their valuable identities to them.

Wow.  This is wrong on so many levels and what is worse is that a lot of users will do it JUST for twenty bucks.

I believe this may have been sparked by one of the following two reasons.  Either they are losing a lot of users due to KYC so they thought an incentive would make things better for themselves or they are trying to collect a ton of information for specific reasons or for specific parties.

But imagine a HUGE corporation gets to buy KYC data from various companies amounting to a total of one billion different people and all of a sudden a group of hackers get to leak ALL this information.  It would be devastating.  Stay away from KYC, it is not a procedure against crime.  It is storing information of millions or billions of people to only put it all directly in the hands of criminals at any given time which is worse than money laundering, tax evasion or whatever else they are trying to use as excuses for KYC enforcement.

Do not be stupid.  Your information is not worth $5.  Not worth $20.  Your personal information is invaluable.

-
Regards,
PrivacyG

For now. There is an endless list of exchanges, services, web wallets, and other centralized services which have sprung unannounced mandatory KYC on all their users, resulting in assets being frozen and accounts being locked until KYC is completed. If the service you are using is centralized (as blockchain.com is), then they can lock your account and demand KYC at any time. If you wouldn't want to complete KYC with them (and I would question the sanity of anyone who sends their personal information to a company as untrustworthy as blockchain.com), then you better get your coins off their service and in to your own wallet ASAP.

This happen everywhere especially with those airdrops who wish to farm some personal details and emails of their users. And this is so dangerous since they can do what they want and worse they sold it to different type of entities then use it whatever they like. So if its really bad to accept this offer so better forget that small amount then try to look at other things which can give us more profit without risking our personal details.

Sorry about the scam, there are many complaints about blockchain.com wallet regarding scam, web wallet is not recommendable.

Blockchain.com wallet do not make KYC mandatory, only mandatory for those that want to participate in airdrops or other KYC required reasons. Using the wallet for bitcoin and bitcoin cash only, no KYC needed.

That is quite okay but I have not done that before, I just do not click on emails. If the email is disturbing and often, I report it as spam. I click on only the emails I request for.

First of all no exchange is giving bonus money for KYC completion, they are making it mandatory so either you verify or just stop using them is their stand. If you receive such emails then they are probably from fake with phishing links so don't click it anyway. Almost all the exchanges want your identity to trade even the p2p with good trading volumes so being completely anonymous is getting harder.

I received the exert email yesterday, I was so much surprised with their offer of giving out $25 to pass their KYC. There is much to this offer that's what I say to myself. It would have been much better if the $25 was only meant for the bonus if you trade with them, than demanding your identity first.
Is this the way that Blockchain.com wants to get more people to pass their KYC since nobody wants to do KYC with them

Blockchain was the first wallet I downloaded in crypto when I was scammed. After the scam, it made me hate Blockchain for that. It was as if it was Blockchain that scammed me. Honestly, till now I never knew blockchain requires KYC.
But the emails of any company does not hit my box because I always check not to recieve any update from them.
About KYC scam, I raised a topic Identity Security: A Newbies priority. In that topic I learnt many things more about KYC and privacy, especially from o_e_l_e_o as he is too good at it. This is worth perusing by everyone.

Data is rapidly becoming the most valuable commodity on the planet, and personal data is at the peak of this trend. Companies don't hand out money for fun - even if it seems that they are giving something away, then you can pretty much guarantee they are getting something more valuable in return. So, what do Blockchain.com have to gain by you completing KYC which is more valuable to them than $20? You might then use their exchange services and therefore give them some money back in fees. Sure, but if you were going to do this then you would probably have done it already, and if you haven't done it it means you are trading bitcoin elsewhere and wouldn't use their exchange services anyway.

So what is more valuable than the small amount they will recover from a small number of users in fees? Your data. It can be endlessly monetized. It can be shared or sold to any number of third parties, from marketing agencies to social media companies to blockchain analysis firms to political organizations to governments to law enforcement to anyone else who will pay for it. It can even be sold directly to scammers or hackers, or "accidentally" leaked on to dark net markets in exchange for payment (and given blockchain.com's shady behavior for many years then I wouldn't put this past them at all).

Blockchain analysis is a billion dollar industry. Data analysis firms are some of the largest and most profitable on the planet. Every exchange and service knows this and wants to monetize your data, if you'll give it to them.

I have never completed KYC on any crypto service. It is entirely possible to buy and sell bitcoin for fiat without completing KYC, if you are motivated to do so. See the following non-KYC exchanges: https://kycnot.me/. I would recommend Bisq and LocalCryptos.

Some people will provide there KYC and verify their account, after it is verified, nobody knows if the data are sold to third party. There are many scam and hacks that happened because of this KYC thing, people will give out their data, scammers and hackers will find a way to access it, use it in a phishing attack.

The disadvantage of KYC is the identity thief which you might not want to be a victim of those. especially when the one who got your name will use it for criminal activities in your own country or in the other country where you are about to go and the immigration will hold you accountable and put you directly in jail. I myself have an experience on this identity theft where one of my relatives fell victim to this kind of modus, thankfully the thief was only a minor who uses her data to get old and passed the job interview to be able to work in Saudi Arabia. Identity theft is real, so it's better not to pass those KYC requirements for some few bucks, or else you will gonna regret it.

There should be an option to unsubscribe from receiving email at the bottom of the emails that Bitstamp sends. I am not talking about your Bitstamp exchange account. Check one of their emails and search for the unsubscribe link.

Even with the best of intentions, it's still dangerous because you are relying on a centralized entity to keep all those private data safe. History has taught us that's impossible. No matter if we are talking about banks, exchanges, traditional financial institutions, or crypto-related service providers, too many of them have had their databases hacked and leaked and nothing will change in the future.

Were you trying to say that KYC is such situations is necessary? It would make more sense because without it, the same person could apply multiple times. 

That's not Blockchain.com's fault in all honesty. That could have happened to you if you used Electrum or Bitcoin Core at the time. Sounds like you were phished, hacked, or had you seed/private keys taken from you one way or the other. You should consider what you did to have that happen to you.

Blockchain dot com wallet is not safe to use, there was a time I lost my coins on that wallet when I was fully into faucets and airdrops, someone had access to my wallet and move out all my coins that was when I stopped using the wallet.

Blockchain is the last service you want to verify identity with them, they present themselves as a “wallet” meaning that you will bear all the losses if you forget your seeds, and there is no active support team, however the wallet is buggy, it can be hacked, you can lose Money without compensation, your data can be exchanged with a third party, however the exchange is expensive, transaction fees are high, does not support bc1, and does not guarantee that you will get the reward.

I don't know, but I think that if your data is not important, you will not get that money, and if it is important (from the first world countries), you indirectly lost much more than this reward.

I think that such farming may exist even in projects advertised on this forum. At some point altcoin announcements still existed with airdrops that needed KYC. And probably they're still some, although I avoid that area now.
It's cheaper to give the plebs worthless tokens for the KYC info one is farming. Then whatever price it that sold at, it's basically pure profit.
Afterwards one can increase the business and go for the next level, offering 5$ BTC 

Anyone on here who buy crypto with no FIAT? I'm just stating a fact that everyone on here has passed KYC at a point in this crypto space, you need FIAT to buy Crypto and you need to pass KYC to swap that Fiat to coin.